MVST vs QQQ: Correlation
How closely do Microvast Holdings, Inc. (MVST) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and QQQ?
On 3 years of weekly data the MVST/QQQ correlation comes out at 0.04, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.62) than the 3-year average (0.04). The 5-year figure is 0.13, and annualized covariance runs at 168.3 %².
Within MVST's tracked universe of 41 assets, QQQ comes in at #12 by 3-year correlation. The last year tells two different stories: QQQ led by 97.5 percentage points, -71.2% for MVST against +26.3% for QQQ. One caveat on sizing: MVST is 10.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
MVST vs QQQ: side by side
| MVST (Microvast Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -71.2% | +26.3% |
| 5-year return | -91.6% | +95.4% |
| Volatility (ann.) | 209.2% | 19.6% |
| Beta vs S&P 500 | 0.26 | 1.28 |
| Max drawdown (3Y) | -92.8% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | MVST | QQQ |
|---|---|---|
| 2022 | -73.0% | -32.6% |
| 2023 | -8.5% | +54.9% |
| 2024 | +47.9% | +25.6% |
| 2025 | +35.3% | +20.8% |
| 2026 | -72.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and QQQ good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MVST and QQQ?
As of 2026-08-27, the correlation of weekly returns between MVST and QQQ is 0.04 over 3 years, 0.62 over 1 year and 0.13 over 5 years.
Is QQQ a good diversifier for MVST?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mvst-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mvst-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MVST correlations · QQQ correlations
